Gear Energy Ltd T.GXE

Deception

[Roscoe747]

I wonder what effect deceptive and misleading inventory reporting by EIA will have on oil prices and stock rerating. Historically, the markets have counted on US reporting for accurate inventory data because Chinese data is not trustworthy and the rest of the world does not report weekly inventory change.

It is now suggested that foreign oil in US storage is quietly added to the SPR numbers. The Biden administration is desperate to hold the domestic price of gasoline down before the 2024 election. They have proven themselves capable of any ploy to disrupt markets.

My question is: What will the market response be if this manipulation blows up in their faces and the Emperor is seen without clothes?

An example is the continuing drama about the Chinese economy and its effect on demand. Great angst in the MSM but, in reality, only naptha, lpg and  feedstocks (ie: industrial use)

[Roscoe747]

2/ are down while gasoline, jet and diesel demand has surpassed 2019 levels. The focus on industrial demand is disingenuous at best. A financial oil market 30x larger than the physical market may be able to stir the pot long enough to keep a lid on prices but what happens when the dichotomy of physical oil supply and deceptive data force traders off the fence?

[wkrpradio]

The markets are Always Forward Looking. So the slow down in China as well as  many other countries is what is giving investors pause.